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US-CN Tariff Eased; Walmart/ Other US Retailers Resume Purchasing CN-Made Goods
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Following the agreement between Washington and Beijing to temporarily slash tariffs, US retailers and apparel brands, including Walmart(WMT.US), are racing to procure China-made goods in preparation for the summer shopping season starting in late May. Over the next 3 months, US tariffs on Chinese imports will be slashed from 145% to 30%, logistics firm Portless, which assists US e-commerce brands in importing goods from China via air, said. US merchants resumed ordering holiday dresses, swimsuits, sandals, sunscreens and others from Chinese factories. Portless' clients include swimwear brand Hapari and bug repellent manufacturer NatPat, which said Chinese manufacturers have restarted production and commenced shipping goods. AAStocks Financial News Website: www.aastocks.com |
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